IndiaMart Q2 result: Consolidated net profit at Rs 69.4 cr, revenue up 23%

IndiaMart reported a rise of 1.53 per cent in its consolidated net profit in the quarter ended September 30 to Rs 69.4 crore, as compared to Rs 68.354 crore in the same quarter last year.

The revenue from operations for Q2FY24 came in at Rs 296.96 crore, compared to Rs 240.66 crore year-on-year (y-o-y), registering a rise of 23.39 per cent.

The total income for Q2FY24 came in at Rs 329.33 crore, compared to Rs 287.23 crore y-o-y, registering a rise of 14.65 per cent.

In a press release, the company stated that it registered traffic of 288 million and unique business enquiries of 24 million in Q2FY24, representing a Y-O-Y growth of 10 per cent and 6 per cent, respectively.

Dinesh Agarwal, chief executive officer, said, "We are happy to report continued growth in revenue, deferred revenue, and healthy operating margins in this quarter. This is the result of investments made in further strengthening our value proposition and enhancing the user experience for businesses. With the rising internet adoption and on the back of healthy cash flows, we are confident of the long-term growth and sustained value creation for all our stakeholders."

The IndiaMart stock closed at Rs 2,772 on Friday.